Illinois Municipal Retirement Fund Increases Holdings in Eaton Co. plc (NYSE:ETN)

Illinois Municipal Retirement Fund grew its holdings in Eaton Co. plc (NYSE:ETN) by 13.9% in the fourth quarter, Holdings Channel reports. The firm owned 33,488 shares of the industrial products company’s stock after buying an additional 4,095 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Eaton were worth $11,114,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Groupama Asset Managment increased its holdings in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN increased its holdings in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new stake in shares of Eaton in the 3rd quarter worth $33,000. Activest Wealth Management increased its holdings in shares of Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 87 shares in the last quarter. Finally, Hager Investment Management Services LLC bought a new stake in shares of Eaton in the 4th quarter worth $38,000. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of Eaton stock opened at $287.12 on Wednesday. The stock’s 50-day simple moving average is $329.47 and its 200-day simple moving average is $332.80. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a market capitalization of $113.47 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 2.64 and a beta of 1.05. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period in the prior year, the business earned $2.55 EPS. As a group, analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the company. Evercore ISI reduced their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Eaton in a report on Thursday, February 13th. Barclays lifted their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. UBS Group started coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Finally, Sanford C. Bernstein started coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $366.05.

Insider Activity

In related news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.